J Company has the following information for the year related to its job order costing system.
|Work-In Process - Beginning Inventory||$ 18,000|
|Finished Goods - Beginning Inventory||12,000|
|Direct materials placed in production||80,000|
|Direct labor incurred||190,000|
|Actual manufacturing overhead incurred||300,000|
|Manufacturing overhead applied to production||295,000|
|Cost of jobs completed and transferred||500,000|
The cost of J Company's ending inventory of Work in Process is:
|Total materials used||80,000|
|Total manufacturing costs||5,65,000|
|Add: beginning work in process||18,000|
|Less: transferred out||5,00,000|
|Ending work in process||83,000|
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